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509 Leibrandt Avenue, Santa Cruz, California 95060, Santa Cruz, - bed, bath

home-pic
ACTIVE$1,675,000
509 Leibrandt Avenue, Santa Cruz, California 95060
0Bed
0Bath
2,964Sqft
3,746Lot
Year Built
1965
Close
-
List price
$1.68M
Original List price
$1.68M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82024779
Home ConditionFair
Features
Good View:
Deck
Patio
View-

About this home

Fantastic 4-Plex in Beach Hill. This is a wonderful multi-family investment opportunity in a prime beach neighborhood. Building has value add and upside rent potential. Unit #1 is intentionally left vacant, giving buyers the unique opportunity to tour a unit without any tenant coordination. The other three units are fully rented at current market rates, making this property both easy-to-view and an income-generating investment. 3 of the units are 2BD, 1BA and one unit is 1BD, 1BA. Parking area and small storage area for each unit and coin-op laundry. Walk to downtown Santa Cruz, The Boardwalk, and wharf, plus access to some of the best beaches in Santa Cruz County. Easy access to commute routes and UCSC. Great location to enjoy all that Santa Cruz has to offer!

Price History

Date
Event
Price
10/14/25
Listing
$1,675,000
Neighborhood Comparison
 SubjectAverage HomeNeighbourhood Ranking (5 Listings)
Beds00
Baths00
Square foot2,9642,138
83%
Lot Size3,7466,055
17%
Price$1.68M$1.46M
83%
Price per square foot$565$691
17%
Built year19659695976
83%
HOA
Days on market23143
17%
Condition Rating
Fair
Built in 1965, the property is aged but appears to be maintained with fresh paint and newer carpets in living areas and bedrooms. However, the kitchens and bathrooms are significantly outdated, featuring older white appliances, tile countertops, basic fixtures, and dated flooring (vinyl/linoleum). While functional and clean, these areas require substantial cosmetic updates to meet current quality and style standards, aligning with the 'value add' potential mentioned in the listing.
Pros & Cons

Pros

Exceptional Investment Opportunity: This 4-plex is explicitly marketed as a 'wonderful multi-family investment opportunity' with 'value add and upside rent potential,' making it highly attractive to investors seeking income and growth.
Prime Coastal Location: Situated in a 'prime beach neighborhood' with walking access to downtown Santa Cruz, The Boardwalk, wharf, and local beaches, ensuring high tenant demand and desirability.
Immediate Income & Viewing Convenience: Three units are fully rented at current market rates, providing immediate income, while one unit is intentionally vacant for easy buyer tours and potential immediate renovation/re-renting.
Tenant-Friendly Amenities: The property offers practical amenities such as a parking area, small storage for each unit, and coin-op laundry, enhancing tenant convenience and property appeal.
Excellent Accessibility: Provides easy access to commute routes and UCSC, broadening the potential tenant pool to include students and commuters, further solidifying its rental market strength.

Cons

Age of Property: Built in 1965, the property is over 50 years old, which may necessitate significant capital expenditures for updating major systems (e.g., plumbing, electrical, roof) or general modernization to realize its full 'value add' potential.
Limited Bathroom Count: All units are configured with only one bathroom (3x 2BD/1BA, 1x 1BD/1BA), which could be a drawback for some tenants or families and potentially limit rental income compared to units with more bathrooms.
Implied Capital Expenditure for Value Add: While 'value add' is a strength, it also implies that the property is not fully optimized and will likely require additional investment post-purchase to achieve higher rents or modern standards, impacting immediate cash flow.

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